Renting after Bankruptcy

[queenfluff]

Awesome! Thanks for the stories guys! I feel less worried now (and not as limited).

[kymgirly]

I work for a property management company and we use the same credit scoring system for everyone. We don't automatically reject those with bad credit or bankruptcy just depends on what the recommendation says.

[JackBondLove]

I have 18 years of good credit, am 27K in and have suffered an R9, so credit is already damaged.

What is an R9?

[ValleYum]

R9 = charge off on a revolving credit account (like a credit card). This will stay on your credit report for 7 years.

R1, R2, R9 and Other Terms in Your Credit Report

After ordering your credit report, you may find several credit terms that require an explanation. Here is a glossary in order to have a better understanding of your credit bureau:
Credit Rating:

R1: This is a revolving credit that always been paid on time.

R2: A revolving credit with a 30 days late payment.

R3: A revolving credit with a 60 days late payment.

R4: A revolving credit with a 90 days late payment. You may also find credit accounts gone to collection agencies showing R4 rating. At that stage, chances are that the company sold your account to a collection agency below its actual value (what you owe).

R5,R6,R7,R8: It is an aggravation of a R4. We rarely see them on the credit report. It usually jumps from R4 to R9.

R9: This is the worst credit rate an individual can have. This means that the account has been written off or closed by the grantor. However, the outstanding amount is still showing on the credit bureau.

It is important to note that the outstanding amount doesn’t matter. It is as bad to be late on a $20 dollar phone bill than a $200,000 mortgage.

Other Terms:
I / R: Each credit account will show the mention “I” or “R” along with a number. This is to determine if it’s a revolving account or if it’s paid by installments. Revolving accounts are such as credit cards and lines of credit (pre-authorized limit) and installments are made on regular mortgages and personal loans.

I / J: Each credit account will also mention if they are Individual or Joint.

Beacon Score, Empirica Score and Fico Score: These numbers represent a global appreciation of your credit behaviour.

http://www.thecredittoolbox.com/r1-r2-r9-and-other-terms-in-your-credit-report/

Hope this helps you!!